Public comments on the OECD TP documentation and CbC Reporting
On 30 January 2014, the OECD invited comments from interested parties on the Discussion Draft on transfer pricing documentation and country-by-country reporting related to Action point 13 of the BEPS Action Plan. On Monday 03 March 2014, the OECD published the comments received, which will be discussed by Working Party No. 6 of the Committee on
Income Tax: New base rate for insufficient pre-payments published
Based on Belgian income tax law, if no or insufficient prepayments are made or wage taxes are withheld at source, a tax increase will be imposed upon assessment of self-employed taxpayers and remunerated company directors. The new base rate for calculating this increase was published in the Royal Decree of 21 February 2014. As of
FATCA, four months to go!
In brief The US Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released on 20 February 2014 two sets of final and temporary regulations. The first set contains changes to the provisions of Chapter 4 of the Internal Revenue Code (Code) commonly referred to as the Foreign Account Tax Compliance Act (FATCA